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TORONTO, Oct. 17, 2011 /CNW/ - Galane Gold Ltd. ("Galane" or the"Corporation") (TSX VENTURE:GG) is pleased to announce that Mr. Donald Cameron has been appointed Chief Financial Officer of the Corporation, subject to final approval of the TSX Venture Exchange.

Mr. Cameron is a Chartered Accountant and has in excess of 30 years of experience in capital markets and finance. Mr. Cameron is currently the Managing Director of InHouseCFO Inc., which provides CFO services to TSX Venture Exchange companies like Galane. Prior to this he served as Chief Financial Officer of RBC Royal Bank, Global Private Banking, one of the top global financial institutions, and was a Managing Partner of KPMG LLP.

Philip Condon, CEO of Galane said "We are very pleased to have Don join Galane Gold as Chief Financial Officer. He brings the knowledge and experience necessary to guide the development of the Galane Gold financial systems and personnel through its future growth."

The Corporation also announces the grant of stock options to Mr. Cameron. Options to purchase up to 100,000 common shares were granted with a five year term and an exercise price of $0.80 per share.

Certain information in this press release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. The Corporation assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to the Corporation. Additional information identifying risks and uncertainties is contained in the Corporation's filings with the Canadian securities regulators, which filings are available at www.sedar.com.

Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.